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Jury Finds Three FX Traders Not Guilty of FX-Rigging Conspiracy

The U.S. District Court for the Southern District of New York acquitted three foreign exchange ("FX") traders on charges of conspiracy to manipulate benchmark currency rates (i.e., fix rates) after a jury determination. The acquittals follow prior guilty pleas involving five major banks that allegedly worked together to manipulate the global FX market. The pleas resulted in criminal penalties totaling about $3 billion.

The three former FX traders for Barclays PLC, Citigroup Inc. and JPMorgan Chase & Co., respectively, were previously indicted for allegedly coordinating their trading to affect fixes on the FX spot market.

Note: The acquittals are available for purchase through PACER.

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